City of Long Beach - File #: 15-048CI

• File #: 15-048CI
• Version: 1
• Name: loan 817 Daisy Ave
• Type: CI-Agenda Item
• Status: Approved
• File created: 11/11/2015
• In control: The Long Beach Community Investment Company
• On agenda: 11/18/2015
• Final action: 11/18/2015
• Title: Recommendation to: 1. Approve a loan in the amount of $500,000, in HOME CHDO funds to Home Ownership for Personal Empowerment for the acquisition and rehabilitation of the property located at 817 Daisy Avenue; 2. Authorize the President to negotiate an Affordable Housing Loan Agreement with Home Ownership for Personal Empowerment; and, 3. Authorize the President to execute any and all documents necessary to implement the Loan Agreement and the project.

Date	Ver.	Action By	Action	Result
11/18/2015	1	The Long Beach Community Investment Company	approve recommendation	Pass

TITLE

Recommendation to:

1.                      Approve a loan in the amount of $500,000, in HOME CHDO funds to Home Ownership for Personal Empowerment for the acquisition and rehabilitation of the property located at 817 Daisy Avenue;

2.                     Authorize the President to negotiate an Affordable Housing Loan Agreement with Home Ownership for Personal Empowerment; and,

3.                     Authorize the President to execute any and all documents necessary to implement the Loan Agreement and the project.                     

SUGGESTED ACTION

Approve recommendation.